PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives Average Rating of “Hold” from Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has earned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $124.6429.

A number of equities analysts have recently issued reports on PDD shares. Citigroup cut their price target on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. BNP Paribas Exane initiated coverage on shares of PDD in a report on Monday, June 15th. They set an “underperform” rating and a $89.00 price objective on the stock. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research report on Friday, April 17th. Nomura cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 28th. Finally, Benchmark reduced their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research report on Thursday, May 28th.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of PDD in the fourth quarter valued at $1,065,446,000. H&H International Investment LLC raised its stake in shares of PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after buying an additional 8,211,600 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of PDD in the 2nd quarter worth about $482,273,000. Finally, Dodge & Cox acquired a new stake in PDD in the 4th quarter valued at about $503,429,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ:PDD opened at $82.53 on Wednesday. The stock has a fifty day moving average price of $87.96 and a two-hundred day moving average price of $99.11. The stock has a market capitalization of $117.47 billion and a price-to-earnings ratio of 8.91. PDD has a 1 year low of $71.94 and a 1 year high of $139.41.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The business had revenue of $15.41 billion during the quarter, compared to analyst estimates of $15.92 billion. PDD had a net margin of 21.86% and a return on equity of 24.32%. PDD’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.57 EPS. On average, analysts predict that PDD will post 9.7 EPS for the current year.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.